East Midlands: People are struggling to manage their money, research suggests

Guardian News

Published:12:34Thursday 19 February 2015

Despite an abundance of budgeting apps and 24/7 access to bank accounts, many people in the East Midlands are still struggling to manage their money effectively.

Research by TopCashback.co.uk reveals that half of East Midlands residents find it difficult to make their money stretch until their next pay day.

The study also found that despite around half of residents saying they save each month, with more than a quarter putting between £51-£100 into a savings pot, 22 per cent are overspending into their next pay cheque with 47 per cent admitting to splurging on pay day treats.

However, when it comes to saving the pennies, around half of residents cut back on their social life expenses .

A third of residents alsoso try to cut out unnecessary shopping in order to manage their money better.

Results were based on a survey of 155 respondents from the East Midlands.